How we investBuilding net worth
Do I pay more in fees in a fund of funds than going direct?
Not if the vehicle is built right.
Author
Founder, Ocean Ridge Capital Partners · Southern California
Morgan has invested in 45 properties since 2020. He led the Cleveland exit, twenty properties returning 2.32x and 22% IRR to investors, four years ahead of plan.
Morgan spent ten years in startups, helping teams raise over $400M in venture capital. He watched founders build companies and end up with nothing when the music stopped, and concluded that high income without ownership is a nicer cage rather than freedom. He made his first passive investment in 2014, out of curiosity, and began moving what he earned building companies into assets that did not move with the market. Friends noticed and invested alongside him.
He founded Ocean Ridge Capital in 2020. The firm started as a direct operator, buying and turning around distressed multifamily, which is why it underwrites sponsors the way it does. Today it invests its own money alongside its investors in real estate, private credit and select alternatives, and declines almost everything it looks at. Morgan writes the answers on this site himself, and every page carries the date it was last reviewed.
How we investBuilding net worth
Not if the vehicle is built right.
How we investBuilding net worth
On our most recent equity vehicle, three ways.
How we investBuilding net worth
Declination triggers are seven pass/fail tests we run on every real estate equity deal before we spend a day on diligence.
Real estatePassive income
Not in a private real estate deal, which usually runs three to ten years.
Real estateTax efficiency
It can, depending on the kind of gain.
Private creditPassive income
We set the headline yield aside, because they all quote about the same number.
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